Union Jack Oil PLC Holmwood Planning Update (0322X)
21 November 2017 - 6:00PM
UK Regulatory
TIDMUJO
RNS Number : 0322X
Union Jack Oil PLC
21 November 2017
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the
purposes of Article 7 of Regulation (EU) No 596/2014 until the
release of this announcement.
21 November 2017
UNION JACK OIL PLC
(AIM: UJO)
Holmwood Planning Update PEDL143 Weald Basin
Union Jack Oil plc ("Union Jack" or the "Company"), a
UK-focused, onshore oil and gas production and exploration company
notes the announcement released this morning by Europa Oil &
Gas (Holdings) plc ("Europa"), in respect of PEDL143, where Union
Jack holds a 7.5% interest. Europa included the following
statements:
"Europa, the AIM traded UK and Ireland focused oil and gas
exploration, development and production company is pleased to
provide a planning update regarding the Holmwood oil exploration
prospect ("Holmwood") on license PEDL143 at Bury Hill Wood,
Coldharbour Lane, Surrey. Europa is operator of PEDL143 in which it
holds a 20% interest.
As previously advised in the Company`s announcement dated 19
October 2017, Surrey County Council`s ("SCC") Planning and
Regulatory Committee met on 18 October 2017 in connection with a
conventional oil exploration well to test the Holmwood
prospect.
The Committee resolved to defer a decision on Condition 19
(Construction Traffic Management Plan) of the planning permission
granted on 7 August 2015. Europa considers that the Construction
Management Plan as submitted to SCC on 21 September 2017 for
approval satisfactorily meets the requirements of Condition 19.
Europa will shortly submit an appeal ("the Appeal") to the
Planning Inspectorate against the refusal of SCC to approve the
Construction Traffic Management Plan and discharge Condition
19.
Europa will also resubmit the Construction Management Plan to
SCC for their consideration ("the Resubmittal"). In parallel with
this, Europa will undertake additional consultations with Parish
Councils and residents of Coldharbour Lane to provide further
information regarding the Traffic Management Plan.
The Resubmittal and the Appeal form part of a dual track
approach the Joint Venture Partners believe provides the best
opportunity for a successful planning outcome and which will enable
the discharge of Condition 19."
For further information, please contact:
Union Jack Oil plc +44 (0)7787 160 682
David Bramhill
SP Angel Corporate Finance
LLP +44 (0)20 3470 0470
Nominated Adviser and
Joint Broker
Lindsay Mair
Richard Hail
Turner Pope Investments
(TPI) Ltd +44 (0)20 3621 4120
Joint Broker
Ben Turner
James Pope
This information is provided by RNS
The company news service from the London Stock Exchange
END
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